Tariff could hit soybean farmers hard

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Soybeans are a major crop across the state.

The U.S. trade deficit widened by more than forecast to a fresh nine-year high in February amid broad-based demand for imports, ahead of Trump administration tariffs that have raised the specter of a trade war.

Hlubik grows 800 acres of soybeans on his farms. Reuters reports that the Ministry of Commerce said in a statement that if the US "disregards the objections of China and the worldwide community and persists in unilateralism and trade protectionism, the Chinese side will follow through to the end, at any cost, and definitely fight back resolutely".

"You go out to lunch and you meet some other farmers at lunch and the conversation has come up", said Haan.

The trade gap has continued to rise since Trump entered the White House partly because the US economy is strong and American consumers have an appetite for imported products and the confidence and financial wherewithal to buy them. Hemmes was quick to take advantage of the gain.

USMEF said it was hopeful that the trade dispute could be resolved without China introducing additional obstacles for United States beef. In total, more than 40 percent of her soybean crop is contracted, compared with 20 percent at this time a year ago, she said.

Despite the rising tension, Trump on Wednesday dismissed the notion that the tariffs amount to a "trade war with China". "These words and actions cost farmers real money".

And, Hurst said, soybean farmers weren't starting from a position of strength anyway. He doesn't plan to change his acreage mix, as much of this season's harvest is already forward-sold.

As a fifth-generation farmer, Keenan said the new tariffs could potentially affect his entire livelihood.

Haynes said he trusts the Trump administration, and ultimately, he believes things will work out better than they were before.

China's list of tariff exposed USA beef items announced this week includes fresh and cold (chilled and frozen) carcase beef; chilled and frozen bone-in beef; and chilled and frozen boneless beef. China said it would "counterattack with great strength" if that happens.

Michigan is the country's 12th largest soybean supplier, which is a cause for concern among farmers in Mid-Michigan.

In our surrounding counties, a $6-$12 million impact. "China relationship are the most risky for global growth".